COBRA Administrator, Clarity Benefit Solutions, Discusses Practices that Help Employers Mitigate Risk and Contain Health Care Expenses
NEW YORK, Dec. 29, 2017 /PRNewswire-iReach/ -- COBRA administration companies like Clarity Benefit Solutions, discuss practices that help employers mitigate risk and contain health care expenses.
Providing employees with quality, accessible health care options—while containing the expenses and mitigating risk to the company as a whole—is a challenge in and of itself. Health care regulations are constantly evolving, and the terms and conditions of the Affordable Care Act (ACA) may also change in the near future. Regulations pertaining to the Consolidation Omnibus Budget Reconciliation Act (COBRA) are also very complex. Plus, the Employee Retirement Income Security Act (ERISA) regulations permit personal liability to be imposed on the employer for any COBRA violations—another potential headache for an employer to contend with.
However, maintaining COBRA compliance may be one of the most challenging aspects of managing healthcare issues. Noncompliance can result in costly penalties, not to mention litigation liability from former employers. Partnering with a COBRA administration company is an excellent way to take the guesswork out of complex compliance processes as well as mange tasks such as mailings and payments—leaving you free of worry and able to focus on running a successful company.
COBRA administrators such as Clarity utilize a COBRA web-based software program that mitigates risk, contains health care expenses, and relieves an employer's administrative workload. The platform streamlines compliance with automated notifications about important life event changes, qualifying events, pending payments, and account updates with 24/7 access—providing you with peace of mind that compliance is being managed effectively and efficiently.
Here are some additional ways that Clarity helps employers avoid unnecessary risks and reduce costs: sending qualifying event notifications via first-class mail with proof-of-mailing, processing COBRA elections once completed by client/qualified beneficiary, validating all COBRA elections, billing and collecting premiums monthly, following bad address process for undeliverable mail, providing collections for bad checks, sending termination and conversion letters, processing participant life status events, managing ongoing validation of COBRA participant eligibility, and validating and processing disability extensions.
About Clarity Benefit Solutions: Clarity Benefit Solutions COBRA administration, provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, [email protected]
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SOURCE Clarity Benefit Solutions
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